Today, Plenti announced the launch of its new brand campaign, Destroy Your Dreams, coupled with its first major consumer competition. The campaign aims to inspire Australians to stop putting their big ideas on hold and instead make them real.
As the leading consumer fintech lender in Australia, with the largest loan book, Plenti has already helped bring over 95,000 dreams to life through its faster and fairer loans.
Destroy Your Dreams nods to the fact that more Australians than ever are using ‘inspiration boards’ on social media sites including Pinterest and Instagram, to plan their dreams. From home renovations and green upgrades to weddings and cars, many of these dreams have remained just that, living inside boards and not brought to life.
In line with this launch, Plenti has today also released new data, highlighting the most common loan purpose categories and significant areas of growth. Since the start of 2021:
- 46% of all of Plenti’s loans were for vehicles
- 24% of all of Plenti’s loans were for renewable energy
- 30% of Plenti’s personal loans were for debt consolidation
- 25% of Plenti’s personal loans were for home improvement
Looking ahead, Plenti anticipates requests for home renovation loans will grow by more than 56% year-on-year by 31 December 2021, as Australians make the most of moving beyond lockdowns.
Plenti CEO Daniel Foggo said: “We’re excited to be launching a major brand campaign and customer competition that highlights how Plenti can help people achieve their dreams. This has been an incredibly strong year for Plenti during which consumers have continued to maximise their financial freedom. We anticipate as we move into the final weeks of the year, we will see record numbers of Australians looking to make their dreams a reality.”
The Destroy Your Dreams competition runs from today through to 5 December 2021. To enter, participants must share a link to the Pinterest board of their dreams, aligning it to one of Plenti’s major loan categories. These include car, wedding, home or kitchen renovation, renewable energy and debt consolidation. The winner, who will be announced on 6 December 2021, will receive $20,000 from Plenti, to help them realise their dream.
Plenti recently announced it had delivered 140% year-on-year growth in its last quarterly update. This reflects the fact customers are increasingly looking for better value, more transparent alternatives to their bank when looking to bring their dreams to life.
Plenti’s customers’ average customer credit profile is exceptionally strong, with the average borrower being around 40 years of age and a homeowner, with a strong credit score of >820 (which is higher than Big Four bank averages). The Company is proud of its progress to date and confident about its future growth as Australians continue to seek faster, fairer alternatives when looking to bring their big ideas to life.